Website: http://joshdowlut.com/
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Friday’s jobs report showed a 9.5% unemployment rate with no end in sight. We’ve been floating around 10% for over a year now. The worst part about it is that in broad terms, we have up until now only been presented with 2 choices:

The Democrat plan: spend money we don’t have

The Republican plan: cut taxes on the rich and the big corporations

Allow me to introduce the Josh Dowlut plan: cut taxes on the middle class and small businesses and acknowledge that we must cut the sacred cows of entitlement and defense spending if we are to avoid a disastrous insolvency scenario.

Specifically, there is an invisible 7.5% tax on our wages that few are aware of because it is the responsibility of your employer to pay it. However, it is widely agreed that if it were not for this tax, our wages would higher, in other words, workers ultimately pay this tax. We could exempt small businesses from complying with this tax which would lead to an increase in wages for workers and a decrease in wage costs for employers. This would grow the economy 4 ways:

1. Workers would have more money in their paychecks to spend or save and invest
2. With lower payroll costs, employers could hire more workers
3. The payroll tax is incredibly complex and burdensome to comply with and therefore is a regulatory burden in addition to being a tax burden. It is disproportionately burdensome on small businesses and serves as a barrier to entry and a barrier to growth. In the interest of competitive, free markets we must lift this burden from small businesses.
4. A payroll tax cut is the only tax cut that can help a struggling business with no profits. 3000 businesses shut their doors last year in MD and a cut to the traditional profits tax wouldn’t have helped them one bit.